Rwandatel deal sealed

The government has finally signed a sale deal of its 80 percent shares in Rwandatel, a local telecom company to Lap Green Networks. Finance Minister James Musoni signed on behalf of the government while Eng. Abdulbaset Elazzabi represented Lap Green Networks, a Libyan company. The signing took place yesterday at the Finance Ministry headquarters in Kigali, paving way for Lap Green to make part payment of $50m. Another $50m will be paid in two installments of $25m within two years.